Billionaire Ryan Cohen Takes Over as GameStop CEO, Vows to Modernize Struggling Retailer

Billionaire Ryan Cohen takes over as CEO at GameStop
Cohen is board chairman and largest individual investor
Cohen won't receive compensation as president, CEO, chairman
CEO job has been revolving door as company struggles
Furlong fired in June after 2 years trying to turnaround GameStop
Previous CEOs include Fontaine, DeMatteo, Raines, Sherman
Cohen co-founded Chewy, hoped to modernize GameStop
GameStop became a meme stock, surging 1,000% in 2 weeks
June 2021 stock sale raised over $1 billion
Shares have seesawed, currently near $20

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Relevant topic timeline:

9/28/2023

GameStop CEO Cohen Urges Frugality, Profitability in Memo to Save Struggling Retailer

Ryan Cohen, newly appointed CEO of GameStop, sent a memo to employees emphasizing the need for extreme frugality and eliminating waste in order to ensure the survival of the struggling video game retailer.

10/2/2023

GameStop Shares Drop as Turnaround Efforts Falter Under New CEO Ryan Cohen

GameStop Corp. shares fell 6.9% and hit their lowest close since February 2021 after activist investor Ryan Cohen was named CEO, signaling his attempt to revitalize the company; however, GameStop is still facing significant challenges and its stock price has declined 17% this year.